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a lot of the money that the low-end consumer has, they won't have anymore, and they won't have the government assistance programs to rely on. may not have the same effect we saw in the last recession. >> the ultimate consumer discretionary stocks, it occurs to me, dana, would be the luxury retailers like a tiffany which have suffered here recently. they in the past have been immune to a lot of vagaries of the consumer and the economy, but that hasn't been the case this time around. what happened? >> i think tiffany's a little bit different than some of the other luxury goods company. tiffany overall is working on its product, silver business which is a high margin category. didn't have enough novelty and newness in it and hopefully that's something they can fix for next year. >> wasn't just me then? >> not just you. >> exactly. >> i noticed that, yeah. >> dana on that point, the companies for stocks like tiffany's, what about aptitude in places like china in. >> overall when we see what's happening in china, so many new brands emerged in china, new companies on the luxury good fronts, and you
a lot of the money that the low-end consumer has, they won't have anymore, and they won't have the government assistance programs to rely on. may not have the same effect we saw in the last recession. >> the ultimate consumer discretionary stocks, it occurs to me, dana, would be the luxury retailers like a tiffany which have suffered here recently. they in the past have been immune to a lot of vagaries of the consumer and the economy, but that hasn't been the case this time around. what...
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Dec 27, 2012
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we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... you know it even after all these years. but your erectile dysfunction - you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to tr
we fall off the cliff, the fear is that we fall off the cliff, not slowly glide down the cliffch the government at this point needs to understand that we should be able to trust you to do the right thing, put politics aside and think about us, the people that's why we have government. fix it. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a...
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Dec 27, 2012
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government would not pay interest on its debts. have -- you know perfectly well will is about a million things. i have been in the country where they ran out of borrowing capacity and managed important several years to survive without that borrowing capacity. there's a million things you can do before. you don't pay your debt on the u.s. treasuries before you stop paying social security, before you do lots of other things. is he purposefully trying to elevate this to a situation that frightens people? >> in many ways -- this is like the mayan calendar. they said the world would end december 21. we are all still here. the fiscal cliff negotiations and the debts limit thing are not the end of the world and we will figure it out. the most important thing to keep in mind is long term. we want to have a healthy fiscal situation. we have to have a healthy economy. we have to address growth. here's something else that is -- totally missing from this conversation. >> jimmy? >> understand that the executive branch is required under federal
government would not pay interest on its debts. have -- you know perfectly well will is about a million things. i have been in the country where they ran out of borrowing capacity and managed important several years to survive without that borrowing capacity. there's a million things you can do before. you don't pay your debt on the u.s. treasuries before you stop paying social security, before you do lots of other things. is he purposefully trying to elevate this to a situation that frightens...
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Dec 28, 2012
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you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here is over the long-term. naturally, sometime during january if we go over the cliff which is more of a hill, these congressmen will come to their senses. they've gone completely crazy and apparently if you vote for something on december tlonl, then it's okay with grover nor quist and if it's after december 31st, it's something else. look, a pledge is one thing, but look right now we've been spending money on a credit card nationally for the last ten years without paying for it. both parties have been doing it. it's time to pay down. spend less and we have to raise more money. >> that's
you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here...
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Dec 27, 2012
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it is a demographic inevitability more and more money will be spent by governments and people and during the hour we're taping the show, another thousand people are turning 65. we like the way the stocks are set up technically, almost all out of breakout resistance levels. on the phrfamilia pharma sidsid- >> i will break in with breaking news. we are not taping. >> we're taping and going live to tape. >> so we're not going to edit anything i just said? >> no. it's not going on tape anywhere. >> let's get back -- >> welcome back to live television. >> the logistics not withstanding. >> each of you think a different sector of the market will be the leadership group of 2013. >> interesting no one said energy that over the last couple years was always the sector everyone pointed to. >> let me say something about the three picks, strong cases made. the reason why i wouldn't take those trades and why i'm going for health care, on industrials, you need a huge pickup in the global economy for that group to perform. i don't see where it's coming from. midway through the year, i might changes my t
it is a demographic inevitability more and more money will be spent by governments and people and during the hour we're taping the show, another thousand people are turning 65. we like the way the stocks are set up technically, almost all out of breakout resistance levels. on the phrfamilia pharma sidsid- >> i will break in with breaking news. we are not taping. >> we're taping and going live to tape. >> so we're not going to edit anything i just said? >> no. it's not...
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Dec 26, 2012
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the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in wealth very quickly if we get the economy back to where it should be. >> there's a very good article on cnbc.com about the possibility that congress might decide to start tax is employer-sponsored health insurance. do you think that's a possibility, and what impact would that have on you? >> everything needs to be on the table. if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a cl
the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in...
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Dec 28, 2012
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government, possibly s&p one more notch. it's not going over the cliff but the government can't come up with a real decision. i do, by the way, think there will be some kind of agreement over the weekend as your previous reporter said. i think it will be a light weight deal. the biggest thing, brian, is we get to do this in another 60 to 90 days with the debt ceiling. we have a lot of problems and issues but we can't seem to agree on much. >> craig, should we go over the fiscal cliff? >> well, brian, it's not an ideal situation. certainly i think if you could have both sides of the aisle rise above, as you guys have said, and come to some kind of a balanced deal, it would be great. given the alternatives right now, it's not that bad of a deal because if you look long term, the government spending has been about 20% of gdp. today that's 25%. revenues have been 18% of gdp. today that's 15.4%. it's both a spending issue and a revenue issue. so at least the cliff resolves the revenue issue. certainly it does it more than we need
government, possibly s&p one more notch. it's not going over the cliff but the government can't come up with a real decision. i do, by the way, think there will be some kind of agreement over the weekend as your previous reporter said. i think it will be a light weight deal. the biggest thing, brian, is we get to do this in another 60 to 90 days with the debt ceiling. we have a lot of problems and issues but we can't seem to agree on much. >> craig, should we go over the fiscal cliff?...
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Dec 29, 2012
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the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within there is a little clause that says, as you point out, the worst human rights violators should have trouble getting into the united states. how far should we go, throw, right? i brought this up last night and i'll bring it up again with you. in the united states we believe that people all over the world have certain rights regardless of geography, regardless of ethnicity, regardless of religion. they are inalienable and it is unfathomable to us that there are parts of the world where they don't believe that. it's amazing, but true. how far do we go in pu
the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within...
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was a tremendous emotional response and the guns were banned and those people who owned them and the government knew where they were because they were all registered were required to hand them in even the target shooting olympic team was not allowed to keep guns in the country and they had to practice and keep their guns abroad, but nonetheless, within the decade of guns being withdrawn from these people gun crime with handguns actually doubled and guns are really are awash on the streets and there's a fair amount of street crime using handguns which there hadn't been much of before, and it's beyond which was something that traditionally they never were. so it hasn't worked and what it has done and it's taken the guns away from the law-abiding people that might have used them to protect themselves or to do something else with legitimately. >> what do you say to people who look at united states and say, wow! random mass murderers -- i heard it today. random mass murders in the united states where some whacko killed a bunch of people he doesn't know seems to happen every six months in the united
was a tremendous emotional response and the guns were banned and those people who owned them and the government knew where they were because they were all registered were required to hand them in even the target shooting olympic team was not allowed to keep guns in the country and they had to practice and keep their guns abroad, but nonetheless, within the decade of guns being withdrawn from these people gun crime with handguns actually doubled and guns are really are awash on the streets and...
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government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge fund management and it did very well in '08 and '01 or '2. they've struggled for a couple of years. but still importantly they still have a negative correlation. >> i'm just wondering what happens with the cliff impact on gold. you know, if we find the cliff solution, if we find a mediocre solution, if we find no solution, are we going to see a huge swing in the price of gold? >> well, gold has a safe haven role. it has had a safe haven role just like other assets that you mentioned that could be hemgs against equity movements such as these safe haven bonds such as german ones, u.s. ones, maybe japane
government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge...
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that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self-loathing hater. i don't hate the 2%. >> hey, joe, before we go, you mentioned -- you heard jimmy talking about the decider. that made me think of 4-3. but my heart and mind are with 41 and you worked for him. do you know anything? >> nothing new. we're just keeping him in our prayers.
that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to...
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but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a game changer. >> in terms of what? >> that may ultimately change some of the derivative stuff, what you think the impact of both -- >> we've talked about this. volcker has taken a lot of liquidity out of the market just in terms of -- >> but none of this is on the books. nobody's actually -- it's not there yet. >> the behavioral changes have already come because the lawyers have told the banks you have to live with the volcker rule. they've already done it. my big fear, though, is that the conservatives are trying to winnow down fannie, fred
but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a...
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to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top of all that, true. >> not such a crummy year for japan. japanese stocks rallying you can the yen continuing its slide against the dollar in all the major currencies, in fact. asian markets mixed overnight trading. the nikkei climbing to a closing level not seen since just before the march 2011 earthquake, marking a third day of gains, mostly drive bine hopes for a new stimulus policy. the yen is sitting closes to the lowest level since september 2010 against the dollar. interesting here because now a lot of people are saying the best or the hottest trade in 2013 will, in fact, be long japanese stocks
to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top...
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at the top of the list, government spending cuts that is 8-10% in cuts to every federal agency. and a pay cut for medicare doctors of 27% that would hit after january 1st and finally, don, there's a slew of other tax hikes. the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right now, go to our ireport.com and start a message and we will play them to congress on air. it's murder charges now for a new york city woman who we are told has confessed to pushing a man in the subway track to his death. these details are new and we are still gathering information. there is david, he is in new york. david, what has this woman confessed? >> she seems to have confessed to a hate crime, don, she has been charged with second degree murder in the case of this man who was pushed off the subway platform in queens on thursday. and the queens district attorney's office released this stat
at the top of the list, government spending cuts that is 8-10% in cuts to every federal agency. and a pay cut for medicare doctors of 27% that would hit after january 1st and finally, don, there's a slew of other tax hikes. the minimum tax and the estate tax. that is everything that would hit average americans. the fiscal cliff, it may be bigger than people realize. don? >> lisa, thank you very much. a lot of us would like to tell lawmakers what we think of them. here is your chance right...
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if a deal isn't reached, your taxes will go up and government spending will be slashed. dana bash and jessica yellin are covering all angles of the story. let's start with dana on capitol hill who has heard word of a setback in the talks. dana, what do you know? >> setback from the perspective of democrats. we should underscore that. this is any information that is coming out. is coming out for a purpose. this is certainly significant. when it comes to the democrats' perspective. and that is, they are very unhappy and they call a quote poison pill. what they say is an offer from the republicans to include in this deal, which has been from the democrats perspective, mostly focused on taxes to include in it, a change in a technical way that social security is done. what it effectively would mean is that social security recipients would get smaller checks each month. something that the president himself did offer as part of a larger deal when he was in those talks with the house speaker. and ha democrats would say is we're past that. we're not in the larger negotiations any
if a deal isn't reached, your taxes will go up and government spending will be slashed. dana bash and jessica yellin are covering all angles of the story. let's start with dana on capitol hill who has heard word of a setback in the talks. dana, what do you know? >> setback from the perspective of democrats. we should underscore that. this is any information that is coming out. is coming out for a purpose. this is certainly significant. when it comes to the democrats' perspective. and that...
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a government spokesman says the former south african president is receiving treatment at his home. mandela is said to be resting and in good spirits. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] >>> we have this just in to cnn. you're looking live at air force one as it lands. just back from hawaii. the president had to cut short his vacation there. his holiday vacation so he could deal with the looming fiscal cliff. all eyes are
a government spokesman says the former south african president is receiving treatment at his home. mandela is said to be resting and in good spirits. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes...
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Dec 30, 2012
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, will find out they're getting less money back from the federal government. so that's why in some cases some of the lowest income earning people will be impacted even more than some of the people in the middle because they will find that they're getting substantially less back from the government. we're going to bring you some more scenarios. the link to this is up at my facebook and twitter @jo @joshlevscnn and see how it would affect you and use that to influence your understanding of what would happen if we go over the cliff. >> josh levs not kicking the can down the road. >> not once. >>> it is a story you have to see to believe. ahead a mom and her kids reunited after nearly a week all thanks to a cnn viewer. i just u. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. >>> we're going to get back to the hill gothss in just a minute
, will find out they're getting less money back from the federal government. so that's why in some cases some of the lowest income earning people will be impacted even more than some of the people in the middle because they will find that they're getting substantially less back from the government. we're going to bring you some more scenarios. the link to this is up at my facebook and twitter @jo @joshlevscnn and see how it would affect you and use that to influence your understanding of what...
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a crisis of self-government. we have had divided government that's worked beautifully before. we have got the marshall brandon, the highway system, civil rights bills in the 1960s, lbj as president, dirkson in the senate. we have done this before, all the accomplishments of the reagan era this disfunction is something new, the result of the polarization, party he is being more polarized than ever before, the increased power of the professional partisan activist class, actively arguing on other side to not make a deal saying a bad deal is worse than no deal, go over the cliff. these voices have real influence right now and you they are causing economic calamity to our country. they are making us look foolish. they are making us look unable to self-govern in a constructive way, let alone serve -- solve long-term problems, which is what we elect them for. people should be furious that we are here 36 hours with no deal on the fiscal cliff. >> i have no doubt they are. john avlon, thanks very much, as always, for the insight. thank you. >>> a fiscal fight. it is happening right now
a crisis of self-government. we have had divided government that's worked beautifully before. we have got the marshall brandon, the highway system, civil rights bills in the 1960s, lbj as president, dirkson in the senate. we have done this before, all the accomplishments of the reagan era this disfunction is something new, the result of the polarization, party he is being more polarized than ever before, the increased power of the professional partisan activist class, actively arguing on other...
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we need to deal with our run-away government spending, the government is spending too much money. tax increases are not part of cutting the budget. tax increases are what politicians do instead of reforming government. as long as tax increases are on the table, the politicians never even think about reforming government. >> i understand you've been on this fight for a long time and you've been devoted to the whole idea of not seeing taxes increase anywhere. what we're down to is largely a political battle over the increase in marginal tax rates based on what you earn. i understand there's a lot more to this puzzle. but on that front, because that's the one that gets most of the ink around here. it's the whether people who earn more than 250,000 or 2z 400,000 or a million should pay more tax. the point i'm trying to get at is that's not going to hurt the economy. that's all we're talking about. paying 4.6 percentage points higher on your income over 250,000, the evidence isn't there that that's going to hurt the economy. >> it will take taxes from 35% to 43.6%. because you have to
we need to deal with our run-away government spending, the government is spending too much money. tax increases are not part of cutting the budget. tax increases are what politicians do instead of reforming government. as long as tax increases are on the table, the politicians never even think about reforming government. >> i understand you've been on this fight for a long time and you've been devoted to the whole idea of not seeing taxes increase anywhere. what we're down to is largely a...
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the government. the government is sig bbigger, unless we do something it will get bigger and the deficit will get bigger even if we raise taxes on everybody. we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi ber ra. >> this is deja shz vu all over again. americans want to know why you can't get stuff down in an organized timetable. >> so if we all saw it coming, why did congress wait so long to do something about it? why do toys for tots and hasbro trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. anyone have occasional constipation, diarrhea, gas, bloating? yeah. one phillips' colon health probiot
the government. the government is sig bbigger, unless we do something it will get bigger and the deficit will get bigger even if we raise taxes on everybody. we still have a huge deficit. if we do not take on spending, then the cliff may not seem like a cliff but will be a downward slide to make us like greece. no lodnger a viable economic power. >> hang on. we'll continue this. we have to take a quick break. the fiscal cliff has the president sounding like new york yankees legend yoeg gi...
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how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a handwritten ledger. for the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest, too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense is something garcia's wife of 59 years thinks her husband could use. do you think he is crazy? >> well -- >> reporter: call him crazy. but there is an entire federal office, the bureau of public debt that collects money from hundreds of mr. garcias. this office in parkersburg, west virginia, was set up by president kennedy so citizens could pay down the national debt. this year alone it collected 7.7 million in gifts, about 90 million since it was established. but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the
how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a handwritten ledger. for the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest, too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense is...
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Dec 29, 2012
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based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but today the philosophy's main spokesman is this man. grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbid signatories from raising taxes ever under any circumstances. things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose the ability to borrow money. both democrats and republicans deploy scorch earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to $1 trillion in spending cuts up front and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would g
based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but today the philosophy's main spokesman is this man. grover norquist, president of americans for tax reform. norquist's pledge signed by almost all republicans in congress forbid signatories from raising taxes ever under any circumstances. things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a condition for raising the nation's...
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Dec 24, 2012
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you keep saying the government is spending too much money. where are you going to get the dollars from? >> well, if you recall, this is columbine deja vu. we had this conversation right after columbine and the clinton administration very appropriately developed the cops in schools program in the justice department and in the past five or six years that -- and this crosses both administrations, it's not a political statement, the last five or six years across multiple congresses, congressional sessions, that money disappeared. even if you could afford -- and i support school resource officer programs. as a father, i can understand, every father would like, you know, a police officer in their school and many parents right now after sandy hook would like a one officer per kid, but my challenge and question is fund it now. if congress throws money when they come back in january at this, what are you doing for sustainability? and, don, you hit it in the head. five years from now, six years from now when the grants run out, how do you sustain that
you keep saying the government is spending too much money. where are you going to get the dollars from? >> well, if you recall, this is columbine deja vu. we had this conversation right after columbine and the clinton administration very appropriately developed the cops in schools program in the justice department and in the past five or six years that -- and this crosses both administrations, it's not a political statement, the last five or six years across multiple congresses,...
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Dec 30, 2012
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government bonds because we'll be out of the debt situation. 've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. duracell with duralock. progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any
government bonds because we'll be out of the debt situation. 've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. duracell with...
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Dec 28, 2012
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he heads an entirely separate branch of government with an altogether different purpose. i think we need to go back to the way the government was designed to operate, and that is the deliberative function, in the legislative branch, both the house and the senate, acting independently. and then resolving their differences through conference. that process works, it works very well. this business of a couple of legislative leaders and the president going behind closed doors, coming up with some clever scheme, and then dropping it in the laps of the congress for a take it or leave it vote produces bad policy. in fact, bad process always produces bad policy, and that's what we're seeing. >> congressman, we've been seeing virtually no progress to date, but i hope folks have your optimism about not going over the cliff because of the disastrous implications. congressman mcclintock, thanks for coming on. >>> chuck hagel hasn't even been formally nominated to be the next defense secretary, and he's already taking right hooks from members of his own party, but do the attacks add up
he heads an entirely separate branch of government with an altogether different purpose. i think we need to go back to the way the government was designed to operate, and that is the deliberative function, in the legislative branch, both the house and the senate, acting independently. and then resolving their differences through conference. that process works, it works very well. this business of a couple of legislative leaders and the president going behind closed doors, coming up with some...
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Dec 27, 2012
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based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but philosophy's main spokesman is this man. grove norquist, whose pledge signed by almost all republicans in congress forbid them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nations's debt ceiling. without a deal, the u.s. would lose its ability to borrow money. they deploy the tactics that nearly shut down the government and ultimaty cost america its aaa credit rating for the first time in history. in a last minute compromise, both sides agree to a trillion dollars in spending cuts up front and another $1.2 trillion in cuts to be decided by a special congressional super committee. a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect starting january 2013. at the exact moment when the bush tax cuts extended for two ye
based on an ideology that calls for government to be as small as possible. the roots are as old as american politics, but philosophy's main spokesman is this man. grove norquist, whose pledge signed by almost all republicans in congress forbid them from raising taxes ever under any circumstances. things come to a head in the summer of 2011. republicans demand the government reduce its deficit as a condition for raising the nations's debt ceiling. without a deal, the u.s. would lose its ability...
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Dec 24, 2012
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governments cut social programs to save money. it was meant to help and hurt by spreading the recession. here's richard quest in london. >> reporter: suzanne, the story of europe in 2012 was very much the austerity, the gut-wrenching, grinding austerity. some countries like greece faced multi-year recession and slowdown, unemployment at over 25%, youth unemployment over 50%. what we saw was the recession expanding. spain, italy, the uk, all found austerity taking its toll even more as unemployment continued to rise in some of those countries. even the large country, the economic powerhouse germany found its slelf slowing down. the root cause of it all was the inability of the european governments to come to policies to get growth started again. towards the middle and end of the year they did, but the tale was style there. very much austerity again and again. perhaps if there was only one change that took place as we moved into the fall and into the winter. it was the realization that most of these countries could take no more aust
governments cut social programs to save money. it was meant to help and hurt by spreading the recession. here's richard quest in london. >> reporter: suzanne, the story of europe in 2012 was very much the austerity, the gut-wrenching, grinding austerity. some countries like greece faced multi-year recession and slowdown, unemployment at over 25%, youth unemployment over 50%. what we saw was the recession expanding. spain, italy, the uk, all found austerity taking its toll even more as...
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that's when the government reaches its legal borrowing limit. the government can operate for a few weeks using emergency measures, but congress needs to act quickly to avoid a full-blown crisis. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look who's getting smart about her weight. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. [music: artist: willy moon ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! neural speeds increasing to 4g lte. br
that's when the government reaches its legal borrowing limit. the government can operate for a few weeks using emergency measures, but congress needs to act quickly to avoid a full-blown crisis. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help...
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Dec 29, 2012
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no governing middle right now in the country. that -- the center, where you find the compromises and bill consensus to move forward, we just don't have that governing coalition here, and the president has tried to work with the congressional leadership, and i understand that, but the congressional leadership really are dealing more with their kind of hard-line partisans. they're not negotiating from the middle either. i look back to the 1980s when i worked in the senate and we had ronald reagan as president and my old boss bob dole as majority leader. we did have governing coalitions. something called the reagan democrats. tip o'neill worked with ronald reagan. one mp the reasons he did that, tip o'neill was the speaker at the time, he knew there was a good chunk of centrist democrats who would switch over and vote with the president. so finding that middle, you know, if i were president obama i would be up on the hill. that's what president reagan would do. go up and meet the swing states, go to their afrsoffices, ask fo their v
no governing middle right now in the country. that -- the center, where you find the compromises and bill consensus to move forward, we just don't have that governing coalition here, and the president has tried to work with the congressional leadership, and i understand that, but the congressional leadership really are dealing more with their kind of hard-line partisans. they're not negotiating from the middle either. i look back to the 1980s when i worked in the senate and we had ronald reagan...
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society could take years if not generations, but at the same time they know today the police and the government could be doing a lot more, martin, in order to protect the women of india. >> yeah. if not changing society, how about changing the laws? what are lawmakeri ins talking t doing in this particular case to protect women? and what about the issue of capital punishment applying in this case? >> well, capital punishment perhaps off the table just in terms of looking at this. that's not necessarily the answer that everybody wants. right now there's a lot of anger and that is reflected in calls for capital punishment. the signs that say, you know, hang the murderers, things like this, in new delhi today. i think moreover they're saying why don't we prosecute these people? why when it's a lower caste woman are they sometimes -- their crimes, their accusations are just brushed under the carpet? police are not paying attention. in some cases the victims are being made to marry their rapists. this isn't a solution for society. this is the ongoing problem that india faces. and all those people an
society could take years if not generations, but at the same time they know today the police and the government could be doing a lot more, martin, in order to protect the women of india. >> yeah. if not changing society, how about changing the laws? what are lawmakeri ins talking t doing in this particular case to protect women? and what about the issue of capital punishment applying in this case? >> well, capital punishment perhaps off the table just in terms of looking at this....
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now, the syrian government has a very different version of events. they say it was armed terrorists in the town that carried out this attack. armed terrorists is the terminology they use to describe opposition and rebel fighters. the syrian government say the residents of that town called for the military to intervene to go in there and help them and help them secure the area. there's been so much international condemnation about the attack that killed as many as 100 people, maybe more than that. the u.s. state department issued a statement yesterday strongly condemning the syrian government for it. that statement went on to say brutal attacks such as these show that this regime has no future in syria. those that commit acrotrocities will be held accountable. the united states calls on all parties that continue to assist regime next cuting its war against the syrian people to end their support. and it was just the next day, just yesterday, that we started hearing about another horrific attack, this time in homs. we started seeing amateur video postin
now, the syrian government has a very different version of events. they say it was armed terrorists in the town that carried out this attack. armed terrorists is the terminology they use to describe opposition and rebel fighters. the syrian government say the residents of that town called for the military to intervene to go in there and help them and help them secure the area. there's been so much international condemnation about the attack that killed as many as 100 people, maybe more than...
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this is about government's role in your life. democrats want more of a social safety net, republicans prioritize lower taxes. and that's what distinguishes the democratic and the republican parties sop so that's what they're fundamentally fighting about. if you break it down to the basic deal points right now, democrats say this smaller deal should include a tax increase for households that make $250,000 and more. an extension of unemployment benefits as you pointed out for about 2 million americans, a delay of those massive spending cuts we've all talked about, an increase in the estate tax. republicans say in this deal what they would prefer to see is a limit in the tax increase for the highest earners and a way to avoid that estate tax increase. no delay in those spending cuts so they can argue about that as leverage in the new year and find a way to pay for those unemployment benefits because republicans prefer if we're going to spend, fiend a way to pay for it, don't add to our deficit. martin? >> so let's just say that sena
this is about government's role in your life. democrats want more of a social safety net, republicans prioritize lower taxes. and that's what distinguishes the democratic and the republican parties sop so that's what they're fundamentally fighting about. if you break it down to the basic deal points right now, democrats say this smaller deal should include a tax increase for households that make $250,000 and more. an extension of unemployment benefits as you pointed out for about 2 million...
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and russia in november governing u.s. adoptions to russia, putting out responsibilities for both sides. so what they're saying is, let's please stick to that agreement. they're in close touch with those families, and they're hoping that at least these 50 or some odd cases should be resolved. they're asking parents that are in the pipeline, stay in touch with your adoption agency and also look at adoption.state.gov. we'll put that on our website. that's where parents can get the very latest information about this crisis. >> all right. elise, thank you very much. appreciate it. >>> americans whose adoptions are in imbow are very worried. they're even desperate for information. i want to talk to a family via skype. this is from dover, new jersey. this is jenny and josh johnston. they are in the process of adopting a child from russia. thank you very much for joining us here. i can only imagine -- i can't really imagine what you are going through here. the two of you already have three children, one of them adopted from ethio
and russia in november governing u.s. adoptions to russia, putting out responsibilities for both sides. so what they're saying is, let's please stick to that agreement. they're in close touch with those families, and they're hoping that at least these 50 or some odd cases should be resolved. they're asking parents that are in the pipeline, stay in touch with your adoption agency and also look at adoption.state.gov. we'll put that on our website. that's where parents can get the very latest...
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the latest on the devastation and why the government is firing on its own people. next. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with unlimited talk and text. hurry in for a droid razr m by motorola for $49.99. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from national. because only national lets you choose any car in the aisle...and go. you can even take a full-size or above, and still pay the mid-size price. now this...will work. [ male announcer ] just like you, business pro. just like you. go national. go like a pro. >>> welcome back to "early start." the u.n. special envoy to syria speaking to president assad in the wake of another gruesome day. in what the u.n. special envoy to syria rahimi said. "we have exchanged opinions about the possible steps that can we taken in the future. the syrian president spoke about his view regardi the situation. i also talked about t
the latest on the devastation and why the government is firing on its own people. next. this holiday, share everything. share "not even close." share "you owe me..." share "just right." the share everything plan. shareable data across 10 devices with unlimited talk and text. hurry in for a droid razr m by motorola for $49.99. executor of efficiency. you can spot an amateur from a mile away... while going shoeless and metal-free in seconds. and you...rent from...
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as far as the victim goes, do we know that her identity yet -- and has the government, has the government reached toout to her family? >> reporter: the government has reached out to her family. the government has been assisting her family throughout from the day the girl was hospitalized, the government has been involved. the government was very much involved in flying the girl to singapore for medical treatment. that even when she was there in singapore being treated, that indian and embassy officials were by her bedside when she passed away, in fact. as far as the identity of the girl is concerned, no, we do not know her name. the family wants to keep it that way. they want their identity of the girl to be concealed from the public. it's something that the indian public and the indian media has given the girl a name, and they have been calling her braveheart. and that's exactly how she's being referred to in the media, braveheart. everyone hoping braveheart's death doesn't go in vain and that this incident does force the government into making some concrete changes here and ensuring the
as far as the victim goes, do we know that her identity yet -- and has the government, has the government reached toout to her family? >> reporter: the government has reached out to her family. the government has been assisting her family throughout from the day the girl was hospitalized, the government has been involved. the government was very much involved in flying the girl to singapore for medical treatment. that even when she was there in singapore being treated, that indian and...
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the government has promised to ban the use of all wild animals in england. >>> how is this? >> not very much to a father. >> free con dms to high schoolers? the city of philadelphia says it's to help stop a health crisis there. but is it just promoting sex? meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. isn't that awesome? uh that's really cool. you should upload these. i know, right? that is really amazing. the pictures are so clear. kevin's a handsome devil that phone does everything! search dog tricks. okay, see if we can teach him something cool. look at how lazy kevin is. kevin, get it together dude cmon, kevin take 20 pictures with burst shot on the galaxy s3. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all y
the government has promised to ban the use of all wild animals in england. >>> how is this? >> not very much to a father. >> free con dms to high schoolers? the city of philadelphia says it's to help stop a health crisis there. but is it just promoting sex? meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the...
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state department issued a state very much condemning the government of syria for what's going o.here's some of what they had to say in that statement. brutal attacks such as these show that this regime has no future in syria. those that commit atrocities will be held accountable. the united states calls on all parties to assist the exaccuse of the war against the syrian people. it was just a day later, yesterday, we heard reports of another air raid targeting another bakery in homs province. according to opposition activists dozens of people were standing in this line outside this bakery, including women and children and 15 people were killed in this attack and once again you see a lot of amateur videos posted online showing how the shock and grief initially after that attack really started turning into rage. people addressing the cameras saying why isn't the world helping us. why aren't arab leaders helping us while bashar al assad is massacring their people. religiony horrific stuff and there's fear that this will keep going on for the next days, weeks and months to come. >> somethin
state department issued a state very much condemning the government of syria for what's going o.here's some of what they had to say in that statement. brutal attacks such as these show that this regime has no future in syria. those that commit atrocities will be held accountable. the united states calls on all parties to assist the exaccuse of the war against the syrian people. it was just a day later, yesterday, we heard reports of another air raid targeting another bakery in homs province....
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that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over sudden acceleration issues. under the deal toyota will install a brake override system in effective cars. it will also set up a fund of $250 million for former toyota owners who sold their cars from september of 2009 through all of 2010. that money would compensate owners for their car's reduced value because of bad publicity. also toyota's a
that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a...
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the government may be. what congress is doing that may have civil libertarians up in arms. >>> and a plea for help describing work conditions and it may be a hoax and dirty international politics. welcome to our viewers around the united states and around the world. wolf blitzer is off today. i'm candy crowley and you're in "the situation room." we begin with the latest fallout from this afternoon's big meeting at the white house. republican and democratic leaders at the house and senate met with president obama to discuss ways to avoid the hundreds of billions of dollars worth of tax increases and spending cuts that hit in just four days. the meeting broke up about 45 minutes ago. cnn radio capitol hill correspondent lisa awaited the leaders' arrival. lisa, let's talk about what we can look for out of this meeting. is there any chance at all to get a deal before the clock strikes midnight on the 31st. >>. >> reporter: right. i think the key player is mitch mcconnell to watch. we're getting potentially more
the government may be. what congress is doing that may have civil libertarians up in arms. >>> and a plea for help describing work conditions and it may be a hoax and dirty international politics. welcome to our viewers around the united states and around the world. wolf blitzer is off today. i'm candy crowley and you're in "the situation room." we begin with the latest fallout from this afternoon's big meeting at the white house. republican and democratic leaders at the...
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the syrian government, for its part, is saying they did not do this. they say this was the work of terrorists. that's the term they use for opposition forces, for rebel forces in syria. they say that, in fact, this town was attacked, that that's how this bakery was shelled, and they say that then they came in and intervened at the behest of the members of the town there. there is some more that we need to tell you about. lakhdar brahimi, the joint u.n. arab league envoy to syria, he went to syria yesterday and spoke to bashar al assad trying to forge a path towards peace. here's more what he told reporters about what he spoke to president bashar al assad about. >> translator: we have exchanged opinions about the possible steps that can be taken in the future. the syrian president spoke about his view of the situation. i also talked about the meetings i have had abroad in several cities with various officials in the region and outside the region. i also talked about which steps would i say are appropriate to be taken to help the syrian people to get out
the syrian government, for its part, is saying they did not do this. they say this was the work of terrorists. that's the term they use for opposition forces, for rebel forces in syria. they say that, in fact, this town was attacked, that that's how this bakery was shelled, and they say that then they came in and intervened at the behest of the members of the town there. there is some more that we need to tell you about. lakhdar brahimi, the joint u.n. arab league envoy to syria, he went to...
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how you care for the poor, how much government spends on the poor. they're very different and i think those philosophical differences are why they are really at loggerheads at this moment. the politics has not helped. right now, i think we're dealing with philosophy. >> absolutely. lisa, don't go anywhere. do we have ali velshi? is ali velshi there? ali? you have more coming up, i know. >> i do. i want to tell you about -- >> help me out here. they're not that far apart, are they? >> this is all politics. they're not that far apart. all the hard work has been done. and the danger of not getting a deal done far exceeds the danger of paying a little extra tax. i'll talk to you about that when i come back, don. >> see you after the break. >> all right. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. soun
how you care for the poor, how much government spends on the poor. they're very different and i think those philosophical differences are why they are really at loggerheads at this moment. the politics has not helped. right now, i think we're dealing with philosophy. >> absolutely. lisa, don't go anywhere. do we have ali velshi? is ali velshi there? ali? you have more coming up, i know. >> i do. i want to tell you about -- >> help me out here. they're not that far apart, are...
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>> divided government that is getting deeper red, deeper blue, right? and there doesn't seem to be any clear leader coming forward to bridge the gap. >> more polarized top to bottom. when you look at the coalitions of the national level, mitt romney won almost 90% of votes from whites, and president obama won over 40% from nonwhites. look at the states on issues like gay marriage or the obama health care plan. blue and red states leading you in very different directions. and you get to congress. the vast majority of leaders are voted in by those who are divided. have you two cohessive coalitions. it's harder to bridge them what is the alternative? we're all here, none of us are going away. we'll find ways to work together or find more self-inflicted wounds like the fiscal cliff. >> the idea, republicans and this is the idea that has been floated, will let us go off the cliff sor they or certain members won't have to raise taxes. >> they will cut taxes retroactive retroactively. >> seems like a bad way to go. >> look, this was a machine built to encourag
>> divided government that is getting deeper red, deeper blue, right? and there doesn't seem to be any clear leader coming forward to bridge the gap. >> more polarized top to bottom. when you look at the coalitions of the national level, mitt romney won almost 90% of votes from whites, and president obama won over 40% from nonwhites. look at the states on issues like gay marriage or the obama health care plan. blue and red states leading you in very different directions. and you get...
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Dec 26, 2012
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his decision comes at a time when rebel forces are making gains over government troops for control of syria's major cities. >>> japan's parliament has elected shinzo abe as the prime minister. he says is he okay health wise now. abe has promised to revive the economy, address japan's debt and create a recovery plan for last year's earthquake, tsunami and nuclear disaster. >>> i hope you have a gift receipt for that. shoppers expected to flood stores to return or exchange gifts they don't fit, don't want. an analyst tells "the wall street journal" 10% to 15% of holiday sales come back as sales and exchanges. >>> a bus bomb targeting. we are live from the pentagon with details. >>> his time has come again, a man from the '60s is getting a start again, lester chambers joins us back. >>> welcome back to "starting point." we've been talking about the blizzard and storm warnings from the deep south all the way to new england. we'll look at seymour, indiana, lexi sheen has drawn the short straw, she's from wlky and getting hammered. >> reporter: that's right, drew. things have calmed down. l
his decision comes at a time when rebel forces are making gains over government troops for control of syria's major cities. >>> japan's parliament has elected shinzo abe as the prime minister. he says is he okay health wise now. abe has promised to revive the economy, address japan's debt and create a recovery plan for last year's earthquake, tsunami and nuclear disaster. >>> i hope you have a gift receipt for that. shoppers expected to flood stores to return or exchange gifts...
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Dec 26, 2012
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and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is supposed to be back, having cut his trip to hawaii short, the first lady, the girls are staying in hawaii. the senate is supposed to convene, but not necessarily the house. what is going to happen? >> reporter: well, we're not really sure. in fact, house republican leaders are having a conference call, i'm told, as we speak, to figure out that very question. they told their members that they would have 48 hours notice before they reconvene the house and so at the earliest, that would be on friday. but, you know, the action
and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior...
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Dec 28, 2012
12/12
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for all the things we complain about our government it's pretty good than most countries. they swing this way and that way and 20 different parties and we're in this situation where there's no iron center here to anchor things and it's not just this fiscal cliff. it's everything. >> we are in a quasi-parliamentary system with political institutions aren't built for it. our structure does not allow for this level of partisanship. as you look at this as you point out, we are on an unsustainable path in the long run in our fiscal kind of situation. republicans and democrats have to live with each other probably for the next four years. at least for the next two years but likely the next four years. is there a path that you think makes sense that is a truce line that would be reasonable for both sides to accept? >> well, we'd really like to see some forward movement in the bigger problems, the tax system, there are things we need to spend more money on, some things we need to spend less money on. it's dysfunctional and those ideas are out there. they've been discussed but they
for all the things we complain about our government it's pretty good than most countries. they swing this way and that way and 20 different parties and we're in this situation where there's no iron center here to anchor things and it's not just this fiscal cliff. it's everything. >> we are in a quasi-parliamentary system with political institutions aren't built for it. our structure does not allow for this level of partisanship. as you look at this as you point out, we are on an...
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Dec 27, 2012
12/12
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that's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're going to settle these cases to put it behind them. the bulk of the money will go to its customers past and present. they will install brake override systems for all vehicles identified by toyota as having a problem with the floor mats getting stuck. toyota set aside $250 million to compensate owners who sold their cars while their sales were plummeting over the bad p.r. and a separate 250 million will be used to compensate owners who don't qualify for that brake override system. finally, all 16 million current toyota owners will be eligible for a warranty on certain
that's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're...
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Dec 24, 2012
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government spending shrinking. and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in congress, briana? >> reporter: there is an open line of communication, i would say, with senate democrats, hala. but there is really no substantive conversations between the folks that you with need for there to be conversations between in order to strike a deal. the white house and congressional republicans, and perhaps more alarmingly, senate democrats are not in conversations right now with senate republicans or with house republicans. and this is problematic obviously because in order to avoid the fiscal cliff, you would need
government spending shrinking. and defending on details of your own situation, various tax breaks slipping away. in other words what we're calling the fiscal cliff. a plan to stop it all from happening still alludes washington, so congress has broken camp for the holidays and the president has gone to holiday on vacation. brianna keilar is out there for us in honolulu, eight days away from the fiscal cliff. are there any contacts occurring on this topic between the president and anyone in...
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Dec 27, 2012
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how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a hand-written ledger. the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense something garcia's wife of 59 years thinks her husband could use. do you think he's crazy? >> loco? >> reporter: call him crazy, but there is an entire federal office, the bureau of public debt, that collects money from hundreds of mr. garcias. this office in parkersburg, west virginia, was set up by president kennedy, so citizens could pay down the national debt. this year alone, it's collected $7.7 million in gifts, about $90 million since it was established. but $90 million isn't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single am
how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a hand-written ledger. the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense something garcia's wife of 59...